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Boston starter homes: Condos asking just under $500,000

Citywide

Engel & Volkers Boston

Boston is one of only a handful of U.S. cities where $500,000 might be considered affordable for a market-rate home.

This analysis looks at condos citywide asking just under that amount. It is the first in a series this week on the costs in Boston of what are often called starter homes.

“A 20 percent downpayment of the $500,000 purchase price represents $100,000," said Constantine Valhouli, co-founder of real estate research site NeighborhoodX, which provided the data. "As a result, these properties tend to be within reach of young Bostonians who either have parental support in the form of the downpayment, or who have managed to save that amount through a higher-income job."

Dig a little deeper into the very similar tags shown above and you’ll see a wide range of per-square-foot prices: From $410 a foot for Unit 2 at 510 Poplar Street in Hyde Park to $1,160 a foot for Unit 2 at 91 West Cedar Street in Beacon Hill (pictured at top).

One last thing, too: Valhouli points out that that Unit 2 at 91 West Cedar, with just 430 square feet, “may be the smallest unit ever listed as a two-bedroom in Boston.”